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These are various terms and abbreviations commonly used in Commerce. They include:

  1. Discount: discount can be defined as the reduction in the price of goods to encourage bulk purchases and prompt payment.

There are various types of discount

  1. Cash discount
  2. Trade discount
  3. Seasonal discount
  4. Quantity discount
  5. Carriage paid: A price quotation for goods in which the seller bears all delivery and transportation charges.
  6. Ex-warehouse: A quotation of price of a commodity which excludes all delivery charges.
  7. Carriage forward: It signifies that the buyer is responsible for the payment of carriage when he received the goods dispatched by the seller.
  8. Ex-works: This means that the buyer is responsible for all delivery charges except loading unto the road or rail vehicle for which the seller is responsible.
  9. C/F (cost and freight): this includes freight charges, which may even include overseas delivery
  10. CIF (cost insurance and freight) : it includes cost of insurance while goods are in transit
  11. FAS (free alongside ship) : price include delivery to a ship, but does include loading charges


  1. A/C                 Account current
  2. ADV advertisement
  3. Amt amount
  4. a/o account of
  5. A/P account payable
  6. Approx approximate
  7. A/R Account receivable
  8. A/S account sale
  9. Bal bring (brought) down
  10. b/d bank draft
  11. be bill of exchange
  12. b/f brought forward
  13. b/p bill payable
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